"It is with heavy, heavy heart that we regret to inform you that the inaugural MTK: Music To Know Festival in East Hampton will not take place. Despite our unique vision and arranging a world-class line-up, ticket sales were not adequate to allow the event to continue. We wanted to let everyone know now before engaging more deeply.

Along with our ticket holders, vendors, sponsors, business associates, colleagues and friends in the community, we too are filled with deep disappointment. We pledge to endure during this difficult time with the same integrity and professionalism displayed throughout the creation of this event.

As mentioned, Music to Know Fest makes its debut in East Hampton, NY over the weekend of August 13-14, and features artists such as Vampire Weekend, Bright Eyes, Matt & Kim, Ra Ra Riot, Dawes, and others. Set times have been announced for the festival, which you can check out below.

MTK, not to be confused with Escape to NY, have also teamed up with MTA Long Island Railroad (LIRR) to add an official westbound train for concertgoers:

The train, departing from the LIRR East Hampton station at 10:56 PM, is aptly timed to ensure concert goers will have sufficient time to enjoy the day's line-up and festivities and will be making all the local stops on Long Island into Brooklyn and Manhattan.

For more fun, you can download the official MTK 2011 App for iPhone, iPod touch, and iPad at the iTunes app store. The fest also features fashion tents. According to a press release:

The fashion pop-up tents will be set up in a "retail village" and the merchants are anything but your average festival brands. Mary-Kate and Ashley Olsen were first to purchase pop-ups from MTK: Music To Know - planning to debut their much-anticipated website StyleMint and their successful contemporary line Elizabeth & James to the crowd of almost 10,000 people gathered at the event in the Hamptons during the height of the season.

Hmmm... Tickets for the festival are still available. Set times and a list of the clothing brands that will be on display at the fest below...

The Outside Lands Festival, which runs from 8/12 - 8/14 in Golden Gate Park in San Francisco, released their 2011 lineup in April (and now it's May, so consider this a catch up post). Tickets are on sale.

This year's fest will appearances from The Shins, Muse, Arcade Fire, Arctic Monkeys, The Black Keys, Phish (two sets), !!!, Erykah Badu, Big Audio Dynamite (who played Coachella and are also playing Lollapalooza), Girl Talk and many more. The full lineup is below.

MTK: Music To Know Festival announces its inaugural line up headlined by Vampire Weekend on Saturday, August 13th and Bright Eyes on Sunday, August 14th. Other confirmed bands include Matt & Kim, Cold War Kids, Chromeo, Tame Impala, Ra Ra Riot, Fitz & The Tantrums, Tom Tom Club, Dawes, M Ward, We Are Scientists, The Limousines, Naked and Famous, Francis and the Lights, Suddyn, Nicos Gun and Young Empires -- 18 of today's most critically-acclaimed and successful new, emerging and well-known bands. The music begins at noon each day, ending at 10PM.

According to Co-Founder Chris Jones "The Hamptons are a unique market to say the least -- full of decision makers, trend setters, and taste generators who have always been eager to embrace the best and the brightest in our culture -- whether that is in literature, film, fashion or music. We are excited to bring this collection of artists together in our community, and hope this is the first of many annual events."

Cheesy marketing and opinions of the ritzy location and potential crowd aside, I have to say that MTK did a pretty kick-ass job of curating a relevant indie rock lineup for an East Hampton crowd (filled with bands that do a good job of moving tickets, relatively speaking). Tickets are on sale now. Two-day passes start at $195 each+fees+parking if you need it. VIP tix will cost you much more.

Without knowing how willing people are to travel to the Hamptons, how many people are already in the Hamptons, and how many tickets they need to sell (possibly only "9,500 people over both days"), it's hard to guess how successful the fest will be (from a business/longevity point of view) (Bing is a sponsor so that probably helps), but it definitely beat expectations so far (relatively speaking). More details below...